Redburn Atlantic initiated coverage of DoorDash with a Buy rating and $170 price target, which offers 66% potential upside to the current price. With the “greatest freedom to invest and best track record for driving share gains,” DoorDash is well positioned to deliver industry-leading, above-consensus volume growth with multiple levers to achieve above-consensus adjusted EBITDA, the analyst tells investors in a research note. The firm says that despite this, the stock trades broadly in line with peers, leaving it with a valuation that appears compelling.
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